On his TaxProf blog, Pepperdine professor Paul Caron has the data on the continuing shrinkage of law school faculty. Over the last five years, faculty jobs have fallen by more than 13 percent. He also has the lists of the ten hardest hit schools and the ten that have grown.
This is a reaction to an over-stimulated market, much as we saw the elimination of many jobs in the housing market and related fields when that bubble burst. With law school, it’s more of a steady deflation. The number of law school administrative positions that have been eliminated is no doubt also high.